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India - TATA Steel Europe plans to pass price hikes on to buyers

Reuters reported that TATA Steel Europe expects input costs rising by GBP 70 per tonne to GBP 80 per tonne due to higher raw material prices but will pass all of these on to customers from April 1st 2011

Dr Karl Ulrich Koehler told Reuters “We have no choice but to increase our prices immediately. We have to do this urgently.”

He said he forecast prices of raw materials should stabilize at the high levels, which we are expecting, in the course of the year.

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